The State of Crypto: From Winter to Spring, Institutional Investors Lose Interest.
Bitcoin has had its best start to a year since 2013, up 80.65% since January 1, leading some to believe that the crypto winter may have turned into a crypto spring. Fintech firm Block reported $2.16bn in Bitcoin revenue generated in Q1, up 18% from Q4 and 25% YoY. Fineqia International reported a 66% increase in digital assets under management in 2023, with global Exchange Traded Products (ETPs) with digital currencies as their underlying assets showing a 29% rise in value vis-à-vis the broader digital asset market, which grew 51% in the four months this calendar year.